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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Supervision & Enforcement
FMA Cancels Financial Advice Provider’s Transitional Licence
By Editors | 15/12/2021
This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company’s sole financial adviser at a previous employer.
Fraud, Scams & Cybercrime
AUSTRAC Issues Financial Crime Guide on Disaster Payments Fraud
By Editors | 13/12/2021
The financial crime guide helps financial firms identify the misuse of emergency and disaster payments administered through Services Australia.
DeFi & Web3
Thai SEC Consults on Rules Restricting Use of DeFi Platforms
By Mark Johnston | 12/12/2021
The proposed rules would bar digital asset fund managers from investing customer assets on DeFi platforms and digital asset advisers from recommending them to investors.
Fraud, Scams & Cybercrime
Quantexa Awarded Best Solution in Anti-Fraud
By Editors | 10/12/2021
Quantexa’s platform brings together a holistic view of counterparties, creates a networked view of customer relationships, and uses graph analytics to detect risk.
Anti-Money Laundering
Quantexa Wins RegTech Award for Data Analytics Capabilities
By Editors | 10/12/2021
Quantexa connects internal and external data sets to provide a single view, enriched with intelligence about the relationships between people, places and organisations.
Conduct, Culture & Accountability
NZ FMA Files Suit Against Kiwibank for Overcharging Customers
By Editors | 09/12/2021
Between September 2005 and March 2020, some 35,000 home loan customers were overcharged a total of NZD 1.1 million.
Fraud, Scams & Cybercrime
Japan: Sony Life Employee Embezzles $155m While Working Remotely
By Sanday Chongo Kabange | 09/12/2021
The Sony Life Insurance employee allegedly embezzled $155mn while working on liquidating the reinsurer’s assets after it closed.
Fraud, Scams & Cybercrime
Hong Kong SFC Imposes Lifetime Ban on Former Licensee
By Editors | 06/12/2021
The former licensee offered to invest for two students he taught, and then misappropriated their funds for his personal use.
Anti-Money Laundering
BNM Unveils Initial Findings of Malaysia National Risk Assessment
By Mark Johnston | 05/12/2021
BNM is using technology to improve its risk-based supervision, intelligence analysis, data science techniques and off-site surveillance.
Anti-Money Laundering
Interpol Concludes Global Operation Targeting Wildlife & Timber Crime
By Editors | 05/12/2021
Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.
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